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The Homeloans Ultra Plus Fixed Home Loan features competitive interest rates and a redraw facility.

Whether you are buying your first home or want to refinance an existing loan, the Homeloans Ultra Plus Fixed Home Loan is an option worth considering. It is a no-frills loan that lets you lock in your interest rates for the next one to five years. The loan is an attractive option for first-time home buyers and allows you to borrow up to 95% of the property value.

Individuals, companies and non-residents can all apply for the Homeloans Ultra Plus Fixed Home Loan and enjoy the features that it has to offer. The repayments can come from direct debit, BPAY or salary credit.

Things to consider about Homeloans Ultra Plus Fixed Home Loan

The Homeloans Ultra Plus Fixed Home Loan is available for a variety of purposes including purchases, debt consolidation, refinancing, construction or for equity release. It can be used by both first-time buyers and investors.

You have the option to repay the loan weekly, fortnightly or monthly. The account can also be accessed 24/7 through internet banking.

Features of the Homeloans Ultra Plus Fixed Home Loan

Loan to value ratio (LVR). Owner-occupiers are allowed to borrow up to 95% of the property value with this loan. If the loan is being used for any other purpose, the maximum that can be borrowed is 90% LVR. Keep in mind that Lender's Mortgage Insurance (LMI) will be charged if you borrow over 80%.

Loan term. The overall loan term for the Ultra Plus is anywhere from 5 to 30 years, although keep in mind that fixed rates are only available for terms between one and five years.

Redraw facility. Get access to your funds when you need them through phone or internet banking.

Additional repayments. You can make additional repayments with this loan, although keep in mind that paying this loan off early within the fixed period will come with expensive break fees.

Split option. If you package this loan with the Homeloans Ultra LOC, you can split your interest rates. This is available for fixed rate loans from 1 to 5 years.

Fees

Fees you can avoid

Application fee. Send an application online with no strings attached. It will be reviewed by the lender.

Redraw facility fees. There are no fees associated with using the redraw facility. This can be accessed through phone or internet banking.

Fees you can’t avoid

Annual fee. $330. The Homeloans Ultra Plus Fixed home loan has an ongoing fee of $330 a year.

Settlement fee. $150. There's a settlement fee charged by this loan to cover the administration costs which arise out of loan settlement.

Calculate your repayments by filling in some of your details

How to apply for the Homeloans Ultra Plus Fixed Home Loan

Some of the details you have to provide include:

Personal details. Submit your name, address and phone number. If you have a partner and dependents, include those details as well.

Employment information. Provide details about your salary, employer and position within the company.

Other income. If you have additional income sources such as the family tax benefit or rental income, submitting these details will increase the likelihood of loan approval.

If you're thinking of applying for a no-frills home loan, consider the features offered by the Homeloans Ultra Plus Fixed Home Loan. However, make sure to compare a number of loans before choosing the right one for you.

Related Posts

Fix up to 50% of your loan and with Homeloans you can save one the fixed component. Also, if your loan has a Loan to Value Ratio (LVR) of 75% or less, you can combine this with a further saving of 0.07%.

When you really want to take total control over your own finances, the Homeloans Line of Credit is the ideal mortgage option. You have the advantage of accessing your funds when you need them most, but you also have plenty of alternatives to help tailor your home loan to your own preferences.

If you’re looking for a home loan that features no ongoing fees, competitive interest rates and redraw facilities, look no further than the HomeLoans ProSmart Fixed Rate home loan. This is a fully-featured home loan that offers a variety of benefits.

Whether you are an owner-occupier or a property investor, the Homeloans Ultra Full Doc Fixed home loan can be suitable for your needs. It features redraw facilities, no ongoing fees, and the ability to make additional repayments.

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Homeloans Ultra Plus Fixed Home Loan

Interest Rate

N/A

Comparison Rate

N/A

App Fee / Annual Service Fee

$0 / $330

Max LVR

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